ELKO, Nev., Oct. 5, 2017
/PRNewswire/ -- U.S. Gold Corp. (NASDAQ: USAU), a Nevada corporation, today announced that it
has priced a firm commitment underwritten public offering of
1,388,889 shares of its common stock at a price to the public
of $1.80 per share. Gross proceeds,
before underwriting discounts and commissions and estimated
offering costs, are expected to be approximately $2.5 million.
U.S. Gold Corp. intends to use the net proceeds from the
offering for working capital and general corporate purposes. U.S.
Gold Corp. has granted the underwriter a 45-day option to purchase
up to 208,333 additional shares of its common stock. The offering
is expected to close on or about October 11,
2017, subject to satisfaction of customary closing
conditions.
Laidlaw & Company (UK) Ltd. is acting as sole book-running
manager for the offering. Roth Capital Partners LLC has acted as a
financial advisor for the offering.
The securities described above are being offered by U.S. Gold
pursuant to a registration statement (File No. 333-217860)
previously filed and declared effective by the Securities and
Exchange Commission (SEC). A preliminary prospectus supplement and
accompanying prospectus relating to the offering were filed with
the SEC on October 5, 2017. A
final prospectus supplement and accompanying prospectus relating to
the offering will be filed with the SEC. This press release shall
not constitute an offer to sell or the solicitation of an offer to
buy, nor shall there be any sale of these securities in any state
or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or jurisdiction. The offering may
be made only by means of a prospectus supplement and the
accompanying prospectus, copies of which may be obtained, when
available from Laidlaw & Company (UK) Ltd, Attention: Syndicate
Department, 546 Fifth Avenue, New York,
NY 10036, by telephone at (212) 953-4900 or by email at
syndicate@laidlawltd.com. Electronic copies of the final prospectus
supplement and accompanying prospectus will also be available on
the website of the SEC at www.sec.gov.
About U.S. Gold Corp.
U.S. Gold Corp. is a publicly traded U.S. focused gold
exploration and development company. U.S. Gold Corp. has a
portfolio of development and exploration properties. Copper King is
located in Southeast Wyoming and
has a historical Preliminary Economic Assessment (PEA) done by Mine
Development Associates in 2012 for Strathmore Minerals Corporation.
Keystone is an exploration property on the Cortez Trend in
Nevada, identified and
consolidated by Dave Mathewson. For
more information about U.S. Gold Corp., please visit
www.usgoldcorp.gold.
Safe Harbor
Certain statements in this press release are forward-looking
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements may be identified by the use of
forward-looking words such as "anticipate," "believe," "forecast,"
"estimated" and "intend," among others. These forward-looking
statements are based on U.S. Gold Corp.'s current expectations and
actual results could differ materially. There are a number of
factors that could cause actual events to differ materially from
those indicated by such forward-looking statements. These factors
include, but are not limited to, risks arising from: U.S.
Gold's satisfaction of customary closing conditions in this
offering, prevailing market conditions, the anticipated use of
proceeds from the offering, the impact of general economic industry
or political conditions in the United
States or globally, changes in the price of gold and mining
industry cost inputs, memory chips, changes in the demand for
memory systems, increased competition in the memory systems
industry, order cancellations, delays in developing and
commercializing new products, risks faced by junior companies
generally engaged in exploration activities, and other factors
described in the Company's most recent Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q and Current Reports on Form
8-K filed with the Securities and Exchange Commission, which
can be reviewed at www.sec.gov. The Company has
based these forward-looking statements on its current expectations
and assumptions about future events. While management
considers these expectations and assumptions to be reasonable, they
are inherently subject to significant business, economic,
competitive, regulatory, and other risks, contingencies, and
uncertainties, most of which are difficult to predict and many of
which are beyond the Company's control. The Company does not
assume any obligations to update any of these forward-looking
statements.
For additional information, please contact:
U.S. Gold Corp. Investor Relations:
+1 800 557 4550
ir@usgoldcorp.gold
www.usgoldcorp.gold
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SOURCE U.S. Gold Corp.